Control Self Assessment

Enclosed is a memo from the University’s Chief Audit Executive regarding an internal control self assessment. Please review the enclosed memorandum and ensure that appropriate staff completes the assessment by May 4, 2007 as requested.

One of the consequences of decentralized management is the need to pay attention to our processes and business functions to ensure that we do things in a way that conforms to appropriate procedures and policies. To support this, the University of Florida, recently adopted the “Guiding Principles of Financial Management” (http://fa.ufl.edu/uco/guiding-principles-financial-management.asp). The University has also adopted a statement of Internal Control Principles (http://fa.ufl.edu/uco/internal-control-principles.asp). These principles emphasize a commitment to accountability and operating under high ethical and fiscal standards.